HYPE Token Declines Following $60M Team Unlock — Was This Anticipated?
Token Unlock Announcement: Hyperliquid DEX unlocked 1.75 million HYPE tokens for developers, valued at over $60.4 million, as part of its vesting plan, which has raised concerns about potential market impact despite prior disclosure.
Market Reaction and Price Decline: Following the unlock, HYPE's price fell approximately 4.6%, reflecting trader apprehension about selling pressure, especially after a significant drop of around 42% since its all-time high in September.
Innovative Launch Model: Hyperliquid's launch was notable for avoiding traditional venture capital funding, opting instead for a broad distribution of tokens to users and developers, which has influenced other projects to adopt similar models.
Performance Amid Market Volatility: Despite market challenges, Hyperliquid has demonstrated strong revenue and trading volume, but ongoing unlock cycles may continue to affect short-term price movements, with the market closely monitoring supply dynamics.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN). As of , TokenFi (TOKEN) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for TOKEN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, TOKEN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00229 | 0.00268 | 0.003 | 0.00338 | 0.0037 | 0.00409 | 0.00441 |
| Fibonacci | 0.00268 | 0.00295 | 0.00311 | 0.00338 | 0.00365 | 0.00382 | 0.00409 |
About TOKEN
About the author
